Wednesday, September 24, 2008

Croatian Government Streamlines Property Purchase Procedure

While good news isn't exactly abounding at the moment, there are stirrings that perhaps we have hit a bottom of sorts and maybe the 'only way is up', or so we would hope in any case. The US Fed's proposal to bail out their banks with all their crappy loans isn't meeting with universal approval, as you can see here, but at least there is a feeling that the problem has been quantified at this stage and the next step is to outline the steps to repair the huge damage that has been done.

In any case, we're happy to tell you that we have some more good news. The Croatian government has announced that it is to make the process of purchasing property there easier for EU citizens. This will obviously be wonderful news for anyone who is, like ourselves, completely in love with this stunning country. Croatian property may once again become a staple for the Irish overseas property buyer. It was very popular earlier in the decade, but interest has fallen off considerably in the past few years.

As reported on our own OverseasCafe.com site, EU citizens will have the same rights to purchase property as Croatian nationals, other than certain rural land. The Croatian government is also streamlining some of the other processes of buying property in the country to help harmonise domestic legislation with the rest of the EU. Croatia may also be joining the EU as early as next year, although it will more likely run to 2011.

If you are looking for a property on one of Croatia's many Dalmatian Islands then you could probably do worse than take a look at the Cushman and Wakefield offering called Kavanjin, a contemporary development of 86 one, two and three bedroom apartments on the north western side of Brac (that's Brac town in the photo), just a five-minute walk from the water, with views of Sutivan Bay and Split beyond. Prices are start at €157,500 for a 73 sq m one-bedroom apartment and ranging up to €369,000 for a 325 sq m three-bedroom apartment. You'll find more details here.

If you fancy the Dubrovnik area of the country there are also some excellent apartments in the beautiful area of Zaton Bay priced from €229,383. You'll find details here.

If the other end of Croatia is more to your liking then you could give Thurles native, PJ Broderick, a buzz about his Istrian property portfolio. His company, Croatian Property Consultants, is offering a small number of apartments in the Peroj region of Istria, Western Croatia. The company has four spacious apartments within a 10 minute walk of beach, village, shops, hotel, etc. The properties range in size from 500 sq. ft. to almost 1,000 sq. ft. with prices from €118,000 to €185,000. All apartments have excellent sea views. A ten minute drive away you’ll find the Jack Nicklaus Golf & Yacht Club at Barabarig.

The company also has 10 apartments located in two blocks in the historic town of Vodnjan, a 10 minute drive from Pula city and its airport. There is a selection of private beaches close by. Sizes range from 600 sq. ft. to 950 sq. ft. and these units are being sold fully furnished with a guaranteed rent of 6% for 2 years. All have sea views with prices starting from €85,000.

There is more info on other Istrian property available from the OverseasCafe.com website here.